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The Chequers, 58-62 Carter Street

For sale: £450,000.00|0.14 Sq Ft|Pubs/Bars/Clubs, Licensed & Leisure

PROPERTY DETAILS

FOR SALE£450,000.00
SIZE0.14 Sq Ft
ADDRESSThe Chequers, 58-62 Carter Street, Fordham, Ely, CB7 5JT
TYPEPubs/Bars/Clubs, Licensed & Leisure
TENUREInvestment Opportunity, For Sale Freehold
POSTED ON8th September 2020

DESCRIPTION

Key Points

  • Freehold public house investment for sale
  • Beer Garden to the rear
  • Car parking for 7 vehicles
  • Managers accommodation at first floor
  • Let on a tied lease which expires in May 2030 at a current rent of £24,307 per annum
  • Additional tied income received by the landlord
  • Guide price £450,000 (5.17 % NIY)
  • Business unaffected by sale
  • Summary

    Freehold public house investment for sale

    Description

    The property comprises a two storey detached building with painted and exposed brick elevations beneath a pitched and hipped tiled roof. To the side and rear elevations are single storey extensions. There is a detached single storey outbuilding to the rear of the site currently used for storage. Externally, there is a beer garden to the rear with seating on wooden benches for approximately 36 customers. The car park is also situated to the rear and is shared with the adjacent Co-op, with The Chequers allocated 7 designated spaces.

    Viewings

    Potential buyers are encouraged to undertake a customer visit in the first instance. Under no circumstance should any direct approach be made to any of the occupational tenants’ staff. For further information and all formal viewing requests please contact the sole selling agents Savills.

    Location

    The property is located in the village of Fordham, Cambridgeshire, approximately 27 kilometres (17 miles) north east of Cambridge and 29 kilometres (18 miles) west of Bury St Edmunds. Local facilities include Co-op and Londis convenience stores, Fordham Church of England Primary School, St Peter & St Magdalene Church, Gulf petrol station and the Crown pub (Hawthorn Leisure). The A142 is a short distance to the west which connects with the A14 to the south and provides access to Cambridge and Bury St Edmunds. The town of Newmarket and Newmarket train station is approximately 9 kilometres (6 miles) to the south and provides hourly services to Ipswich and Cambridge in approximate journey times of 55 minutes and 22 minutes respectively.

    Terms

    We are instructed to invite offers in the region of £450,000 (5.17% NIY) assuming usual purchasers’ costs. The business will continue to trade unaffected from the premises during the marketing of the property and post completion of the sale.

    Tenure & Tenancy

    The property is held freehold. The entire property is let on a full repairing and insuring 25 year lease from 30 May 2005 at a current rent of £24,307 per annum subject to annual RPI linked reviews and open market reviews every fifth year. The lease is tied for all drinks except wines, spirits and minerals which provides the landlord with additional income. A rent deposit of £2,837 is held by the landlord. Barrelage information may be provided upon written request.

    LOCATION

    Location: The Chequers, 58-62 Carter Street, Fordham, Ely, CB7 5JT

    Newmarket (5.1 miles)

    Kennett (5.2 miles)

    Ely (7.6 miles)

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